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> BYD is selling EVs for US$14K in Australia

Tech people seem to really be confused about the concepts of revenue and net income; must be the whole VC we lose money on every item, but make it up on volume thing.

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Do you mean BYD? They posted USD1.2 billion in profit in the most recent quarter FYI, with gross auto margin of ~20%. Their domestic margins are not good, but they've have strong export growth recently and exports are profitable.

Isn't that similar to how Emirates is profitable (~16% before tax as of the last fiscal year) while providing a more luxurious service? For both, the line between state and corporation is blurry enough that you could argue both are subsidized to starve out international competition.

Emirates claims no subsidies at all; BYD's disclosed direct grants alone are about a third of their cumulative lifetime profit, let alone indirect subsidies.

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